Well, possibly another victim of the markets? Coignition has shut it's doors in HK.
For anyone not aware, Coignition was a wholly owned subsidiary of Munich Re AG. Coignition was set up to be a professional services partner for businesses "seeking alternative routes of entry into life insurance". They offered to provide both services and an "end-to-end business platform".
I suspect that given the timing, the business was given a year to see whether they could make a success of things. However it's not been an ideal time to be building new insurance businesses, particularly in the banking world where they have enough existing problems to focus on.
At the time of writing, there were no official announcements on the Munich Re website. The Coignition website has been decommissioned.
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